RealTime IT News

Internet Market Close Report for 1998.11.02

  02-Nov-98 point change % change
ISDEX 171.91 8.15 4.98%
NASDAQ 1,800.91 29.52 1.67%
DJIA 8,706.15 114.05 1.33%

Moves and news:

  • Yahoo (NASDAQ:YHOO) hits a new all-time high and ends the day up 11% to $145.4375 per share. We attribute it more to investors going with the market leader than any one news item today. The deal announced today with Dow Jones for a job search, for example, isn't front page stuff in our opinion and not the caliber of deal to prompt an all-time high.

    As we said in today's Morning Report, we think Yahoo holds an enviable category leader status.

    On the risk side, Microsoft (NASDAQ:MSFT) has a penchant for aiming at category leaders. Apple. WordPerfect. Lotus. Netscape. On the other hand, Yahoo seems to understand the Internet better than Microsoft in the media space and as a media company. Every battle Microsoft has won has been technologically-oriented, software driven. Microsoft makes software and that permeating fabric of its corporate culture may prevent it from understanding media. Software is science, media is art; fundamental different approaches to the Internet.

  • 24/7 (NASDAQ:TFSM) climbs 34% to $15.375 after signing Knight-Ridder's Real Cities and car guide to its ad network services.

  • Network Solutions (NASDAQ:NSOL) continues to get strong interest, up 16% to $62 per share today. Late last week it launched WorldNIC Japan with ASCII in Japan. Ironically, Prudential downgraded NSOL last week. NSOL is one of my top 10 to watch for 1998 and my belief is simply this: as the default registrar even with competition coming that Network Solutions has a substantial lead over any possible challenger. Analogy: few people think about changing their phone numbers once they have one. Too much hassle. As long as Network Solutions remains affordable and competitive in pricing then why switch? The threat is if the Web moves to pure URL-line real-world language addressing that does away with Website URLs. Then pure IP addressing may be in order. And that's an extremely outside possibility at best right now.

    LaunchPad West StartUp Pavilion, part of Spring Internet World '99, one of the the world's largest Internet industry trade shows offers exhibit space for startups ONLY at a reduced price in order to meet their often limited capital available at the startup stage. It is Mecklermedia's way of letting the newbies get their voice heard. If you or a friend is at a Internet startup and want to exhibit at Spring Internet World (expected attendance is more than 50,000) in Los Angeles Spring 1999 then contact Reed Bocchino: mailto:rbocchino@mecklermedia.com